OnePath's fee-for-service platform, OneAnswer Frontier, is increasingly attracting a larger slice of new business coming in from financial planners.
The platform had grown to $350 million in funds under advice since the launch of the product in November last year, OnePath head of superannuation and investment platforms Mark Pankhurst said.
"That is just new business that has gone into the new platform," Pankhurst said.
"You can see that it is growing each week; the portion of the new business that comes in from fee-for-service is growing significantly.
"It is the new norm; people are moving ahead of regulation."
Frontier's product range is largely similar to OneAnswer's commission-based platform.
"There were some mortgage funds that were frozen that are not on the new platform, but you've got basically the same range of products [as on OneAnswer]," Pankhurst said.
OnePath recently added term deposits to its product range.
"Customers didn't understand that a term deposit in a bank should be different than a term deposit on a platform. So there is no platform fee on our term deposits," Pankhurst said.
OnePath hopes the fee structure of the platform will also be able to provide competition to industry funds.
Under the pricing structure, a client with an account balance of more than $100,000 invested in a multi-manager balance fund will be charged less than 1 per cent.
